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Arkansas provides a $500 annual homestead property credit toward the amount of property taxes due. Seniors can have their homestead assessed value "frozen" at the next assessment date after reaching age 65. California exempts the first $7,000 of residential homestead from property taxes.
During a June special session of the State Legislature, Duffield co-sponsored the “Homestead Act”, raising Arkansas’ homestead tax credit from $425 to $500. Duffield also supported legislation to reduce the state's top individual tax rate from 4.4% to 3.9% and to reduce the top corporate tax rate from 4.8% to 4.3%.
The Southern Homestead Act opened up 46,398,544.87 acres (about 46 million acres or 190,000 km 2) of public land for sale in the Southern states of Alabama, Arkansas, Florida, Louisiana, and Mississippi.
Free land claims have a long history in the U.S., going back as far as the 1862 Homestead Act that granted citizens and intended citizens government land to live on and cultivate. Although the ...
The Tax Credit for the Elderly or Disabled allows low-income Americans ages 65 and older to claim a tax credit of $3,750 to $7,500, depending on your income, marital status and other factors.
The Homestead act expanded, rather than changed, the 1841 Preemption Act. The claimed homestead could include the same land which they had previously filed a preemption claim (on up to 160 acres at $1.25 per acre, or up to 80 acres of subdivided and surveyed land at $2.50 per acre), and they could expand their current ownership to contiguous ...